MANILA, PHILIPPINES – Media OutReach – 12 April 2021 – The Philippines has enacted a landmark law that cuts corporate income tax by as much as 10 percent and rationalizes fiscal incentives, thereby serving as the biggest stimulus for businesses in the country’s history. On March 26, President Rodrigo R. Duterte signed Republic Act No. 11534 or […]
Read MoreMANILA, Philippines — The peso may weaken further over the next two years on the back of weak domestic growth, as well as the rising US Treasury yields in the first half of the year, according to Australia-based ANZ Research. In its latest Asia economic outlook, ANZ said the local currency may depreciate to 48.90 […]
Read MoreMANILA, Philippines — Barcelona-based think tank FocusEconomics raised its 2021 inflation forecast for the Philippines to 3.9 percent from the original target of 3.4 percent. This is the second time the think tank raised its inflation forecast after jacking up its projection from 3.1 percent in February. Alexandros Petropoulos, junior economist at FocusEconomics, said the […]
Read MoreThe proposal will hurt the interest of consumers and eliminate competition in the aviation industry. The recent proposal of the national flag carrier to set floor prices for air tickets will affect the tourism industry which is struggling to recover, local experts said. In Vietnam Airlines’ proposal to the Civil Aviation Authority of Vietnam (CAAV), […]
Read MoreSINGAPORE – Singapore has ratified the Regional Comprehensive Economic Partnership (RCEP) and deposited its ratification instrument, becoming the first participating country to complete the official process. All 10 Asean members and key partners Australia, China, Japan, New Zealand and South Korea signed the trade pact, the world’s largest, at the 4th RCEP Summit last November. Trade and […]
Read MoreThe new Covid-19 outbreak is expected to cut tourism receipts by half during the Songkran festival after many provinces have voluntarily imposed a 14-day quarantine, while dozens of events have been cancelled or postponed, says the Tourism Authority of Thailand (TAT). TAT governor Yuthasak Supasorn said a large number of infections originating from the Thong […]
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